USDA
Since 2017, the U.S. has lost over 17% of cattle ranches, more than 150,000 operations. The national herd is at a 75-year low, while consumer demand for beef has grown ~9% over the past decade. Because herd rebuilding takes time, USDA is investing during the downturn so that the next upswing is less volatile for ranchers and more affordable for consumers.